Benjamin F. Edwards & Company Inc. Boosts Stock Position in Enbridge Inc. (NYSE:ENB)

Benjamin F. Edwards & Company Inc. raised its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 50,649 shares of the pipeline company’s stock after purchasing an additional 2,165 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Enbridge were worth $1,802,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. TD Asset Management Inc increased its stake in Enbridge by 24.9% in the 4th quarter. TD Asset Management Inc now owns 37,749,760 shares of the pipeline company’s stock valued at $1,365,583,000 after buying an additional 7,536,678 shares during the period. M&G Plc acquired a new stake in Enbridge in the first quarter valued at about $152,843,000. Cibc World Market Inc. boosted its holdings in Enbridge by 12.8% in the 2nd quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock valued at $1,157,802,000 after purchasing an additional 3,693,495 shares in the last quarter. Canada Pension Plan Investment Board increased its position in Enbridge by 66.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 9,044,864 shares of the pipeline company’s stock worth $327,172,000 after purchasing an additional 3,624,089 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Enbridge by 15.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 21,932,752 shares of the pipeline company’s stock worth $790,785,000 after buying an additional 2,895,742 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Up 0.3 %

ENB opened at $40.52 on Monday. The business has a 50 day simple moving average of $38.79 and a 200-day simple moving average of $36.81. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $41.22. The stock has a market capitalization of $86.47 billion, a P/E ratio of 20.57, a P/E/G ratio of 3.91 and a beta of 0.94. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The business had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $4.28 billion. During the same period in the prior year, the company posted $0.51 EPS. On average, equities analysts anticipate that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were given a dividend of $0.669 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.60%. Enbridge’s payout ratio is 134.01%.

About Enbridge

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.